Second Line of Credit to Agribank


Project Summary

Approval Date 13 Sep 2001
Signature Date 06 Aug 2002
Planned Completion Date 30 Sep 2003
Last Disbursement Planned Date 06 Sep 2003
Sovereign / Non-Sovereign Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 4,865,201.48
Status Completion

Project General Description

The present project concerns the second line of credit to Agribank. It's intended to provide support to Namibia’s national efforts to correct the historical injustices arising from agricultural land ownership and to supplement these efforts with the provision of the necessary means to the new land owners to economically exploit the land. This second line of credit aimed at the provision of financial resources to Agribank for on-lending, at market rates, to emerging/commercial farmers, as well as, established commercial farmers countrywide in order to raise the incomes of emerging, as well as, established commercial farmers, by increasing the productivity and overall production of their agricultural operations. This line of credit should be used to finance the procurement of farmland and livestock, agricultural equipment and implements, farm inputs such as seeds and fertilizers and the development of agricultural infrastructure including fencing, water reservoirs, boreholes, marketing facilities and housing for farm labor. It should also put particular emphasis on the redistribution of commercial farmland on the basis of “willing buyer, willing seller” and increasing women’s access to credit.

Project Objectives

The sector goal is to lead to continued growth in agricultural Gross Domestic Product (GDP), across the broadest possible socioeconomic base, in a sustainable manner. The project objective is the provision of funding to Agribank to onlend at market rates to emerging (communal) farmers and commercial farmers countrywide for investment in livestock production and irrigated and rainfed agriculture.

Beneficiaries

The direct beneficiary of the project is Agribank. In addition, the ultimate beneficiaries are emerging farmers/ community and commercial farmers across the country.

Participating Organization

Funding
African Development Bank
Implementing
Agribank

Information

IATI identifier 46002-P-NA-HAA-002
Last Update 31 Oct 2019

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Contact Details

Name BALAYAH Mohamed Yusuf
Email m.balayah@afdb.org

Geographic Location

Country Namibia